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SHFE rubber likely under pressure on Fri. on China PMI data
2013-3-1 0:00:00Font Size：Big Medium Small
Shanghai Futures Exchange
Rubber futures traded on the Shanghai Futures Exchange (SHFE) is likely to see downside pressure on Friday (March 1, 2013) after the release of the purchasing managers’ index (PMI) forChina’s manufacturing sector.
The reading fell to a five-month low of 50.1 percent in February from50.4 inJanuary, according to a survey co-conducted by the National Bureau of Statistics and the China Federation of Logistics and Purchasing.
But it was still above the 50 threshold that demarcates expansion from contraction for the fifth consecutive month.
The most actively traded contract for September 2013 delivery opened at 24,505 yuan/metric ton, down 185 yuan from the previous close.
(Contributed by Olivia, olivia@tireworld.com.cn)
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